A study of structural factors on the output of unconventional Initial Public Offering in Tehran Stock Exchange

This research was conducted over unconventional Initial Public Offering in Tehran Stock Exchange aiming to study the structural variables such as: 1) industry type 2) company age at the time of supply 3) market value 4)type of offering being from private or public sector 5) market conditions being in hot & cold. In this research ,the literature review in the respective filed was first accomplished and after selecting the appropriate descriptive variables, the basic models were chosen to test the hypotheses. Among the descriptive variables used, only the variable entitled "industry type" was deemed ineffective over the output of unconventional Initial Public Offering in various periods(Day one, two, three and first month).Also the company age variable indicated a reverse relationship with the unconventional Initial Public Offering .i.e. when the primary supply market gets slower than of the time of initial boom and the customers tend to consider the structural factors. The higher the age of the company since establishment ,considering the clearer operational conditions ,the lower the unconventional output. Similarly ,the same result applies to the company size. With respect to the type of supply, it was deducted that the public sectors supplies enjoy a lower unconventional output. In other words, the government has not sold their companies to the public that inexpensively via the privatization process.